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THE EFFECT OF MERGERS AND ACQUISITIONS ON ABNORMAL RETURN: CASE STUDY OF 46 LISTED COMPANIES IN INDONESIA STOCK EX- CHANGE (IDX) FROM 2010-2016 Fadlitama, Luthfie; Adawiyah, Wardatul
Emerging Markets : Business and Management Studies Journal Vol 5 No 1 (2017)
Publisher : Academic Research Centre Services

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (638.98 KB) | DOI: 10.33555/ijembm.v5i1.54

Abstract

This research aims to analyze whether there is a significant difference of abnormal returns due to the occurrence of mergers and acquisitions activity in which affect the wealth value of the shareholders and to determine the return of the shareholders after mergers and acquisition proportion is announced. In order to calculate the abnormal returns, this research uses two different approach; market model and market adjusted modelEvent study methodology is used to determine the abnormal return using market model and market adjusted model over period 10 days before and 10 days after consummation of mergers and acquisitions. The result of this study shows that significant abnormal returns before and after mergers and acquisitions activity is not exist (accept H0). Furthermore, when proportion (mergers and acquisitions of more than 50% and less than 50% of target interests) is used to analyze the return for shareholders, theresults show that mergers and acquisitions of more than 50% target interests generate positive return for shareholders of acquiring and target firms (reject H0). In mergers and acquisitions of less than 50% only accrue positive return for shareholders of acquiring firms (reject H0) while shareholders of target firms suffer negative return (accept H0)
TERAPI SPIRITUAL EMOTIONAL FREEDOM TECHNIQUE (SEFT) UNTUK MENURUNKAN TINGKAT STRES AKADEMIK PADA SISWA MENENGAH ATAS DI PONDOK PESANTREN Adawiyah, Wardatul; Ni’matuzahroh, Ni’matuzahroh
Jurnal Ilmiah Psikologi Terapan Vol 4, No 2 (2016)
Publisher : University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (805.677 KB) | DOI: 10.22219/jipt.v4i2.3523

Abstract

Tingginya angka stres akademik pada siswa pondok pesantren menjadi perhatian penting sehingga perlu adanya penanganan preventif agar tidak menimbulkan hal negatif dan mampu memberikan kesuksesan dalam belajar. Tujuan penelitian ini adalah untuk membuktikan efektivitas terapi Spritual Emotional Freedom Tehnique dalam menurunkan tingkat stres akademik pada siswa menengah atas di pondok pesantren. Penelitian ini adalah penelitian eksperimen dengan desain control group pre-test dan post-test. Subjek adalah 14 siswa sekolah menengah atas di Pondok Pesantren Darul Aman dengan 7 siswa sebagai kelompok eksperimen dan 7 siswa sebagai kelompok kontrol. Hasil penelitian menunjukkan terdapat perbedaan tingkat stres akademik antara kelompok eksperimen dan kelompok kontrol, sedangkan kelompok eksperimen memiliki skor stres akademik yang lebih rendah dibandingkan kelompok kontrol. Diperoleh kesimpulan bahwa terapi SEFT dinilai efektif untuk menurunkan stres akademik pada siswa menengah atas di pondok pesantren.Kata kunci: stres akademik, Terapi SEFT, siswa menengah atas, pondok pesantren.Academic Stress Value in High School students at Islamic Boarding School is rather high, its need preventive action so it can prevent the negative behavior and also increase the motivation in learning. The goal of this research is to prove the effectiveness of Spritual Emotional Freedom Tehnique therapy in decreasing the Academic Stress Value in High School students at Islamic Boarding School.  This research use experimental research design with control group, and to gain significant data the researcher use pre-test and post-test test type. Subjects were 14 high school students in Pondok Pesantren Darul Aman with 7 students as an experimental group and 7 students as a control group. The research data shown a different academic stress level between experimental and control group after the treatment. Experimental group score is less than the control group, which is indicate that SEFT therapy is effective to decreasing the academic stress value in high school students at Islamic Boarding School.Key words: academic stress, SEFT Theraphy, high school students, Islamic boarding school
Perbandingan Volatilitas Asimetris Saham Bertanggung Jawab Sosial danSaham Konvensional di Indonesia Selama Pandemi Covid-19 Periode 2020-2021 Misbahuddin, Muhammad Rizki; Adawiyah, Wardatul
Jurnal Manajemen dan Usahawan Indonesia Vol. 45, No. 2
Publisher : UI Scholars Hub

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Abstract

This study aims to examine the asymmetric volatility of socially responsible stocks and compare it with conventional stocks during the COVID-19 pandemic in Indonesia. The research used asymmetric volatility modelling with the GJR-GARCH model to detect the presence of a leverage effect in the sample which consisted of one index and 20 socially responsible stocks and 21 indices and 34 conventional stocks. The data used is compiled from Thomson Eikon Reuters and Tradingview with a data collection period of January 1, 2020 to December 31, 2021. The results of the study found that there was a significant leverage effect on the SRI-KEHATI index. However, there is no significant leverage effect on socially responsible stocks at the individual level. The study also found that the socially responsible stock index had a higher leverage effect value than the majority of conventional indices in the research sample. The results of this study suggest for investors to choose socially responsible stocks more carefully if the purpose of adding these socially responsible stocks is to reduce risk in their investment portfolios during the COVID-19 pandemic.
Pengaruh Motivasi Merger dan Akuisisi Terhadap Performa Perusahaan di Indonesia Periode 2010-2019 Robbani, Zaid Naqy; Adawiyah, Wardatul
Jurnal Manajemen dan Usahawan Indonesia Vol. 46, No. 2
Publisher : UI Scholars Hub

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Abstract

The objective of this study is to examine the effects of mergers and acquisitions (M&A) motivations on the financial performance of companies operating in Indonesia during the period from 2010 to 2019. The primary objective of this study was to examine the variations in business performance in relation to the three distinct reasons for mergers and acquisitions. There are three primary incentives identified in the literature, including value-chain extension, technology seeking, and other motiva-tions. The sample comprises 72 firms that are listed on the Indonesia Stock Exchange. During the des-ignated research period, a total of 137 merger and acquisition (M&A) transactions were observed. The present study employed a feasible generalized least squares (FGLS) approach. The present study has identified a positive correlation between other mergers and acquisitions and firms' performance in Indonesia, with regards to three distinct types Penelitian ini bertujuan untuk menganalisis bagaimana jenis motivasi kegiatan merger dan/atau akuisisi (M&A) perusahaan mempengaruhi performa keuangan perusahaan pada perusahaan di In-donesia pada tahun 2010 hingga 2019. Fokus pada penelitian ini juga untuk memahami dan men-guji bagaimana perbedaan pengaruh dari tiga tipe motivasi perusahaan dalam melakukan M&A terhadap performa perusahaan. Ketiga motivasi tersebut diantaranya adalah perluasan rantai ni-lai (value-chain-extension), technology-seeking dan campuran. Penelitian ini menggunakan sampel yang terdiri dari 72 perusahaan yang tercatat pada Bursa Efek Indonesia. Selama periode penelitian, terdapat 137 kegiatan M&A. Metode penelitian yang digunakan adalah metode feasible general-ized least square. Penelitian ini menemukan bahwa dari tiga motivasi perusahaan melakukan M&A, hanya kegiatan M&A tipe campuran yang memiliki pengaruh positif signifikan terhadap performa perusahaan.of M&A motivation.
PENGARUH STRUKTUR DAN KARAKTERISTIK DEWAN DIREKSI DANKOMITE AUDIT TERHADAP KEBIJAKAN KEPUTUSAN DIVIDEN Arasy Padil, Muhammad Nawawy; Adawiyah, Wardatul
Jurnal Vokasi Indonesia Vol. 7, No. 2
Publisher : UI Scholars Hub

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Abstract

This study analyzes the structure and characteristics of the board of directors and audit committee against the policy of corporate dividend decisions on the Indonesia Stock Exchange. The method used in this study is LS regression modeling and logit regression. LS regression modeling is done to see the composition of the structure and characteristics of the board and audit committee against the dividend of the company's payment ratio and company’s dividend decision on the Indonesia Stock Exchange. Logit regression modeling is performed to see the composition and characteristics of the board of commissioners and audit committee on decisions of company dividends on the Indonesia Stock Exchange. The two regressions are expected to replace each other's regression results with each other. In this study it was found that the number of directors, the composition of female directors, and the number of independent directors had significant influence on companies to pay dividends and influence the rate of payment of dividend payment ratios.
Pengaruh Emotional Intelligence, Locus of Control, Risk Aversion, dan Financial Literacy Terhadap Risky Investment Intention di Indonesia Ramadhani, Sekar Savira; Ulpah, Maria; Adawiyah, Wardatul
Jurnal Manajemen dan Usahawan Indonesia Vol. 48, No. 1
Publisher : UI Scholars Hub

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Abstract

This study investigates how individual factors—namely emotional intelligence, external locus of control, risk aversion, and financial literacy—affect the intention to invest in risky financial instruments in Indonesia. The research explores both the direct and indirect effects of these factors on risky investment intentions. Data were collected from 507 respondents through an online questionnaire. The findings indicate that emotional intelligence, external locus of control, and financial literacy positively influence the intention to invest in risky assets, while risk aversion has a negative effect. Additionally, the analysis of indirect effects shows that financial literacy moderates the relationship between emotional intelligence and risk aversion in shaping risky investment intentions. However, financial literacy does not moderate the relationship between external locus of control and risky investment intentions.